IOC wants bids from LNG consultants

Vol 20, PW 10 (09 Feb 17) News in Brief

IndianOil is hoping for a better response by the new February 21 deadline in a tender to hire a LNG consultant for its under-construction Ennore terminal in Tamil Nadu.

"More competition is what IOC is after," we hear. IOC scheduled a pre-bid in Delhi on February 8 after re-issuing the tender on January 30.

In its last offer on July 13, 2016, IOC attracted five or six bids by the August 10, 2016 deadline forcing it to unceremoniously scrap the tender on January 17 (2017). "More companies approached IOC after the previous bid deadline and showed interest," we hear.

Among those who bid last time were Poten & Partners, Braemar ACM Shipbroking and Simpson Spence Young. IOC's new tender is a carbon copy of the last one, with no change in the tender terms or scope of work.

On offer is an 18-month contract to prepare tender documents; draw up special contract conditions; suggest the size, specifications and number of tankers needed; the term and type of contract; and to hold meetings with bidders to resolve technical and commercial queries.